Britain Is Poorer Than Every US State | IEA Podcast

In this Institute of Economic Affairs podcast, Callum Price is joined by Director General Lord Frost and Editorial Director Kristian Niemietz to discuss the week in economics. The episode covers findings from the IEA’s landmark public opinion report on British attitudes to economic growth, a new poll from the New Statesman on the gender gap in political attitudes among young people, an IPR report on NHS reform, and the SNP’s proposal to cap prices on essential food items.The panel examines the IEA polling which found that most Britons believe the UK is wealthier than comparable economies such as the United States, Australia and Singapore, when in fact it lags behind most of them significantly. The discussion moves to the generational and gender divides in political opinion, with Kristian noting that Britain is something of an outlier internationally, where young people across the board have moved left rather than following patterns seen in France or Germany. On the NHS, the panel critiques the IPR’s report arguing against a move to an insurance-based funding model, questioning whether it engages seriously with why some health systems outperform others and what role market mechanisms and incentives play.The final segment takes on the SNP’s pre-election pledge to introduce price caps on staple foods including bread, milk and eggs. Kristian sets out why price controls distort the signals that coordinate supply and demand, and Lord Frost and Callum explore the practical consequences, including reduced supply, gaming of the system by producers, and the likelihood of follow-up interventionist legislation to paper over the failures of the original policy.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe